Jack Henry & Associates, Inc. (NASDAQ:JKHY) Shares Purchased by Portside Wealth Group LLC

Portside Wealth Group LLC increased its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 7.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,466 shares of the technology company’s stock after purchasing an additional 96 shares during the period. Portside Wealth Group LLC’s holdings in Jack Henry & Associates were worth $257,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its holdings in shares of Jack Henry & Associates by 7.9% in the third quarter. JPMorgan Chase & Co. now owns 1,791,810 shares of the technology company’s stock worth $316,326,000 after buying an additional 131,515 shares during the last quarter. Spire Wealth Management purchased a new stake in shares of Jack Henry & Associates during the fourth quarter valued at $79,000. Trust Point Inc. acquired a new position in shares of Jack Henry & Associates in the 4th quarter valued at $295,000. Mather Group LLC. raised its stake in Jack Henry & Associates by 12.2% in the 4th quarter. Mather Group LLC. now owns 761 shares of the technology company’s stock worth $133,000 after acquiring an additional 83 shares during the last quarter. Finally, Yousif Capital Management LLC lifted its position in Jack Henry & Associates by 44.4% during the 4th quarter. Yousif Capital Management LLC now owns 13,775 shares of the technology company’s stock worth $2,415,000 after acquiring an additional 4,238 shares during the period. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on JKHY. Wall Street Zen raised Jack Henry & Associates from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Keefe, Bruyette & Woods dropped their target price on Jack Henry & Associates from $190.00 to $183.00 and set a “market perform” rating on the stock in a research report on Thursday, May 8th. Northcoast Research downgraded shares of Jack Henry & Associates from a “buy” rating to a “neutral” rating in a report on Monday, March 10th. The Goldman Sachs Group raised shares of Jack Henry & Associates from a “sell” rating to a “neutral” rating and set a $183.00 price target for the company in a research report on Wednesday, April 2nd. Finally, William Blair reaffirmed an “outperform” rating on shares of Jack Henry & Associates in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $184.10.

Jack Henry & Associates Stock Down 0.3%

Shares of JKHY stock opened at $181.01 on Friday. Jack Henry & Associates, Inc. has a twelve month low of $157.00 and a twelve month high of $196.00. The stock has a market cap of $13.18 billion, a P/E ratio of 32.67, a P/E/G ratio of 3.36 and a beta of 0.75. The stock has a 50 day moving average of $176.39 and a 200 day moving average of $175.29. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.03.

Jack Henry & Associates (NASDAQ:JKHY) last posted its earnings results on Tuesday, May 6th. The technology company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.23. Jack Henry & Associates had a net margin of 17.83% and a return on equity of 21.55%. The firm had revenue of $585.09 million during the quarter, compared to analyst estimates of $585.84 million. During the same period in the previous year, the firm earned $1.19 EPS. The business’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts expect that Jack Henry & Associates, Inc. will post 5.83 EPS for the current year.

Jack Henry & Associates Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, May 29th will be given a dividend of $0.58 per share. The ex-dividend date is Thursday, May 29th. This represents a $2.32 annualized dividend and a yield of 1.28%. Jack Henry & Associates’s dividend payout ratio is presently 39.52%.

Jack Henry & Associates Company Profile

Jack Henry & Associates, Inc is a financial technology company, which engages in the provision of technology solutions and payment processing services. It operates through the following segments: Core, Payments, Complementary, and Corporate and Other. The Core segment provides core information processing platforms to banks and credit unions which consist of integrated applications required to process deposit, loan, and general ledger transactions, and maintain centralized customer and member information.